The stock market has done something it hadn't done since December 31, 1999. On Thursday, all three of the major averages closed at record highs on the same day for the first time since the last millennium, according to Bespoke Investment Group. While history doesn't always repeat itself, it's worth mentioning that all three topped out within a couple of months and a massive economic recession developed soon thereafter.

Euro-area GDP was in line. The euro area grew 0.3% in the second quarter, according to Eurostat's flash estimate, matching predictions. The region saw a slowdown from the first quarter, which experienced growth of 0.6%. Germany's economy posted growth of 0.4%, while Italy's came in flat. The euro is up 0.2% at 1.1155.

Chinese data was awful. July retail sales rose 10.2%, below the 10.5% that was expected and well short of June's reading of 10.6%. Industrial production came in at up 6.0%, versus expectations of a 6.1% print. Completing the trio of disappointing figures was fixed-asset investment, which grew 8.1% compared with the 8.8% that economists had forecast.

A bank in Germany is charging negatives rates for retail depositors. Raiffeisenbank Gmund is charging depositors a custody charge of 0.4% on deposit accounts over 100,000 euros, or $111,500, according to Reuters. "We have written to all large depositors and recommended that they think things over," Josef Paul, a board member, said. "If you don't create an incentive to change things, then things don't change."

The robots are coming for your jobs. A Morgan Stanley note says 47% of US jobs could be automated over the next two decades. According to the data, loan officers (98%) have the highest probability of seeing their job automated, while elementary school teachers and physicians and doctors (0.4%) have the lowest probability.

Nordstrom posts a big earnings beat. The retailer earned $0.67 a share, well ahead of the $0.57 that Wall Street was expecting. Sales slid 1.2%, but that was better than the 2.6% drop that analysts were looking for. "Over the past several quarters, our team has been actively addressing our inventory, expense, and capital and in the second quarter made substantial progress by bringing down inventory in line with sales," Blake Nordstrom, the company president, said on the earnings call.

US economic data flows. Retail sales will be released at 8:30 a.m. ET, and University of Michigan consumer sentiment will cross the wires at 10 a.m. Data concludes for the week with the Baker Hughes rig count at 1 p.m. ET. The US 10-year yield is down 2 basis points at 1.54%.